Reuters Asia Business

China shuts 100,000 fake news social media accounts, ramps up content cleanup

17 May 2023

By Bernard Orr and Eduardo Baptista (Reuters) – China has intensified efforts to clean up the internet from false news and rumours, closing more than 100,000 online accounts over the past month that misrepresented news anchors and media agencies, its cyberspace regulator said. The Cyberspace Administration of China (CAC) launched a special campaign to clean …

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Korean Air’s Asiana bid may restrict competition -EU regulators

17 May 2023

By Foo Yun Chee BRUSSELS (Reuters) – Korean Air Lines’s proposed acquisition of rival Asiana may restrict competition in passenger and cargo air transport services between Europe and South Korea, EU antitrust regulators said on Wednesday. The European Commission said it had sent a statement of objections outlining its concerns, confirming a Reuters story last …

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China’s Tencent marks return to revenue growth in first quarter

17 May 2023

By Josh Ye HONG KONG (Reuters) -China’s Tencent Holdings Ltd marked a return to revenue growth in the first quarter as it recovered from COVID-19-related disruptions and China’s crackdown on video games a year earlier. The world’s largest video game company and operator of the WeChat messaging platform on Wednesday posted an 11% rise in …

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Shell reports ‘operational upset’ at unit in Singapore complex

17 May 2023

SINGAPORE (Reuters) – A unit at Shell’s Pulau Bukom refinery and petrochemical complex in Singapore experienced an “operational upset” on Tuesday, a company spokesperson said. The incident took place at about 10.15 pm local time (1415 GMT) on Tuesday and resulted in flaring, Shell said in a statement on Wednesday. Shell declined to name the …

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Water tech firm Gradiant hits ‘unicorn’ status after $225 million raise

17 May 2023

By Simon Jessop LONDON (Reuters) – Water technology company Gradiant said on Wednesday it raised $225 million in its latest funding round, boosting its valuation to $1 billion which makes it a sector ‘unicorn’. Unicorn is a term for an unlisted firm valued at $1 billion or more. Boston-based Gradiant’s technology is used across a …

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Renewable fuels to drive Neste’s growth this year – CEO

17 May 2023

By Trixie Yap and Florence Tan SINGAPORE (Reuters) – Finnish refiner Neste expects renewable fuels from its new facilities in Singapore and the U.S. to drive its growth this year despite expectations of lower oil product margins in the second quarter, its chief executive said on Wednesday. “The macroeconomic situation is something that is affecting …

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China should play formal role in Sri Lanka’s debt restructuring – US official

17 May 2023

By Uditha Jayasinghe COLOMBO (Reuters) -China should play a formal role in the common framework for creditor talks set up by India and the Paris Club that is aimed at facilitating Sri Lanka’s debt restructuring, a U.S. official said on Tuesday. Sri Lanka defaulted on its foreign debt for the first time in its history …

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Siemens raises full year outlook after 2nd quarter sales beat

17 May 2023

By John Revill (Reuters) -Siemens raised its full year sales and profit guidance on Wednesday after the German engineering and technology group beat sales forecasts during its second quarter. The maker of products ranging from trains and industrial software was in confident mood, boosted by its enormous order book which continued to expand, and a …

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Japan emerges from recession on post-COVID consumer rebound

17 May 2023

By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Japan’s economy emerged from recession and grew faster than expected in the first quarter as a post-COVID consumption rebound offset global headwinds, shoring up hopes for a sustained recovery. But mounting signs of a slowdown in U.S., European and Chinese growth cloud the outlook for the …

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